$BTC The analysis highlights the "Bart Simpson" pattern, a potentially bearish formation observed in Bitcoin (BTC) and Cardano (ADA) charts:
- *Pattern Characteristics*:
- Initial surge (Bart's "head")
- Flatlining price channel ("flat top")
- Volume drying up as price compresses
- *Bitcoin Setup*: Range-bound in a tightening wedge after failing to hold above the 95 level.
This pattern suggests potential distribution and a possible upcoming price drop. Traders should monitor the situation closely, as a breakdown could lead to significant price movements.